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service tax on advance payments received

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SATYENDRA KR. GUPTA

C.A.FINAL

159 Points Posted on 05 March 2009

Dear Friends

Please tell me about the advance payment received on 15.02.2009 against the job work which is complete near end of March ,2009 and bill will be raised on those .

In this particular problem service tax liability due for the M/o Feb,2009 @ 10.30% or 12.36 % ?

Waiting for your Support

Thanks

Jai Ho

S.K.GUPTA

Replies (1)

Sorabh Gupta

Manager ( Taxation )

700 Points Posted on 05 March 2009

Mr Gupta

You should raise two bill for the month of Feb. 2009 i.e. upto 23 Feb 2009 raise one bill & raise second bill after 24th Feb. 2009. In that case there is no issue regarding it.

Regards

Sorabh Gupta